Air Products Announces Plans to Build Network of Commercial-Scale Multi-Modal Hydrogen Refueling Stations Connecting Northern and Southern California

The New Multi-Modal Hydrogen Refueling Stations will have Capacity to Fuel as many as 200 Heavy-Duty Trucks or 2,000 Light-Duty Vehicles Per Day

LEHIGH VALLEY, Pa., May 29, 2024 /PRNewswire/ -- Air Products (NYSE:APD) today announced it intends to build a network of permanent, commercial-scale, multi-modal hydrogen refueling stations stretching from Northern California to Southern California. Eric Guter, Air Products' Vice President, Hydrogen for Mobility, made the announcement during his keynote address at the California Hydrogen Convention at the Los Angeles Convention Center.

"Building a robust hydrogen economy infrastructure is critical to the success of the energy transition and meeting our climate change goals," said Guter. "California is a leader in the energy transition and a first-mover in making zero-emission, heavy-duty transportation in the U.S. a reality. As the world's largest supplier of hydrogen, Air Products has committed to investing $15 billion by 2027 in clean energy megaprojects around the world. Working together, energy companies, vehicle manufacturers and governments can accelerate the energy transition and generate a cleaner future for all."

The permanent, multi-modal hydrogen refueling stations will be equipped to serve heavy-duty vehicles, such as commercial and municipal trucks and buses, as well light-duty hydrogen fuel cell vehicles.

"Each state-of-the-art, high-capacity, high-reliability station will be able to fuel up to 200 heavy-duty trucks or 2,000 cars per day," said Alison Hawkins, Air Products' General Manager – Hydrogen for Mobility, Americas. "These stations will be a key driver to help California on its road to a zero-emissions transportation future."

An innovator in hydrogen for transportation, Air Products' California pipeline network supplied hydrogen to the nation's first pipeline-fed hydrogen fueling station in Torrance, California in 2011. Currently, Air Products operates six hydrogen refueling stations in Southern California.

The new stations announced today will deliver enhanced fueling technology capability, including significantly higher capacity, multiple fueling dispensers and service for both heavy- and light-duty vehicles.

"Hydrogen will play a key role in meeting California's clean energy and climate change goals, and it will pave the way for zero emissions transportation throughout the state. Air Products' investment in a statewide network of multi-modal hydrogen refueling stations marks a significant milestone for California and its development as a global hub for clean hydrogen," said California State Senator Bob Archuleta, Chair of the Senate Select Committee on Hydrogen Energy.

Dee Dee Myers, Senior Advisor to Governor Gavin Newsom, Director of GO-Biz and founding ARCHES Board Member, said, "Infrastructure is the key to unlocking our nation's hydrogen future, and we commend Air Products for committing to build a network of stations and supply them with clean hydrogen in California as part of our hydrogen hub ecosystem. These stations are steps on the path to our end goal – eliminating the need for diesel in our transportation sector."

The announcement of a California hydrogen refueling station network follows Air Products' recent announcement of plans to build a network of multi-modal hydrogen refueling stations connecting Edmonton and Calgary, Alberta, Canada.

As the world's largest supplier of hydrogen, Air Products has hands-on operating experience with over 250 hydrogen fueling station projects in 20 countries, and the company's technologies are used in over 1.5 million fueling operations annually.

To learn more about Air Products' hydrogen fueling solutions and expertise, visit Air Products' Hydrogen Fueling website.

About Air Products

Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest clean hydrogen projects supporting the transition to low- and zero-carbon energy in the heavy-duty transportation and industrial sectors. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and provides turbomachinery, membrane systems and cryogenic containers globally.

The Company had fiscal 2023 sales of $12.6 billion from operations in approximately 50 countries and has a current market capitalization of over $50 billion. Approximately 23,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, X, Facebook or Instagram.

Cautionary Note Regarding Forward-Looking Statements

This release contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions, or circumstances upon which any such forward-looking statements are based.

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